Kogas, Japanese Firms Keen on InterOil LNG Project

Korea Gas Corp. plans to join two Japanese firms in order to jointly bid for InterOil Corp.'s proposed gas-export project in Papua New Guinea.

Wall Street journal reported that Korea Gas, in conjunction with Mitsui & Co. and Japan Petroleum Exploration Co., is looking to become strategic partners in InterOil's Gulf LNG project.

The project is expected to produce about 7.6 million tons of liquefied natural gas annually.

Estimates suggest that Papua New Guinea has 22.6 trillion cubic feet of natural gas reserves.